EV startup Accelero Vehicles raises funding from Social Alpha, LetsVenture

Social VC investor Social Alpha and angel investment platform LetsVenture have led a seed investment round of INR 1.75 crore in Delhi-based Accelero Vehicles. The proceeds will support the company in product development, pilot opportunities, enhancing production capacity, expanding to new geographies, and strengthening the sales and marketing team. Accelero will also use the rapid prototyping lab and other facilities at Social Alpha's Clean Energy International Incubation Centre (CEIIC) in Delhi. The company designs, develops and markets affordable electric bicycles branded 'eBik' and retrofittable engines 'eBik Smart' that convert ordinary bicycles into electric vehicles.